Production of non-agency MBS suffered a third-straight sharp decline in quarterly issuance. The biggest hit was in the prime RMBS sector, where jumbo securitization dropped and GSE-eligible activity nearly disappeared.
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A trial that started in September after years of delays ended with a settlement. Bank of America agreed to pay $1.84 billion to settle claims tied to non-agency MBS issued by Countrywide Financial prior to the 2008 financial crisis.
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AGNC Investment and Annaly Capital Management provided preliminary third-quarter results this week. Book value declined and leverage increased on a sequential basis.
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The Sprout Mortgage saga continues. Word on the street is that the now-defunct company is looking to sell off somewhat seasoned loans with a UPB of roughly $320 million.
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Angel Oak’s REIT saw its share price fall to a 52-week low of $8.73 a unit this week. The problem? Rising rates and a tough whole-loan market. Still, the non-agency MBS player has secured new financing.
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Although the storm primarily caused flooding, auto ABS transactions are protected from extensive losses because of their robust structures and credit enhancement, S&P said.
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SFA is seeking feedback on revisions to TRID Grid for residential MBS; timeshare ABS properties and borrowers are under evaluation following Hurricane Ian.
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